Berkshire Hathaway spent $9.6 billion repurchasing its shares in the third quarter of 2026, while operating profit fell 5.8% from a year earlier to $12.7 billion. The conglomerate released its results on Saturday, 7 November.

By Adam Ujazdowski. Adapted from the Polish original, published on 7 November 2026.

Buybacks accelerate

Third-quarter repurchases were twice the $4.8 billion spent in the entire first half. That brought total buybacks for January–September to about $14.4 billion, according to the company’s financial releases.

Share repurchases are one way of returning capital to shareholders. Reducing the number of shares outstanding increases the ownership stake represented by each remaining share. A buyback does not, however, determine the direction of the share price.

Net earnings fall faster than operating profit

Net earnings attributable to shareholders fell to $22.1 billion from $30.8 billion a year earlier, a decline of about 28%. Investment gains dropped to $9.4 billion from $17.3 billion.

Berkshire notes that net earnings include unrealised changes in the value of shares in its portfolio. Market-price movements can therefore have a large effect on quarterly results even when those holdings are not sold. The company reports operating earnings separately to provide a clearer picture of its underlying businesses.

Nine-month operating earnings still rise

Despite the third-quarter decline, operating earnings for the first nine months increased to $37.0 billion from $34.3 billion, a gain of about 8%. Net earnings for the period totalled $57.9 billion.

The results were released on a Saturday, outside regular US stock-market trading hours. The next regular session, when investors can react to the report, is Monday, 9 November.

Sources: Berkshire Hathaway earnings release dated 7 November 2026 and second-quarter 2026 report.

This article is for information only and does not constitute an investment recommendation.